Property Acquisition

Andrews Denford & Boyd has an experienced and dedicated team to advise occupiers on their property strategy and the relocation process.

Andrews Denford & Boyd has an experienced and dedicated team to advise occupiers on their property strategy and the relocation process. Our market coverage and knowledge is second to none and creates opportunities often not open to others. We have a very strong track record in this field.

Clearly it is important that we understand your requirements and objectives to formulate the search parameters and once this is in place we utilise a variety of methods to identify potentially suitable opportunities in the marketplace.

Andrews Denford & Boyd has access to all of the UK’s leading property information database services including those available to only a limited number of practices. These include amongst others Property Intelligence, Focus, Costar Group, Real Estate Information and EGI Databases. These organisations use a considerable number of staff and resources in compiling details on property availability. However, whilst these are essential tools this information is usually only adequate to provide a snapshot and we use our own experts and market expertise to build upon this core data.

Our firm uses automated e-mail and letter distribution systems to all leading commercial property consultants throughout London and the UK that we may contact directly on behalf of our clients with their requirement. In addition to our detailed marketing expertise this provides us with unrivalled opportunities to identify properties that may shortly be coming to the market or available `off the market’.

A schedule of properties with costs and key details are provided to clients.

Inspections

We arrange and accompany all inspections of shortlisted buildings and provide a general critique as required.

Following initial inspections, we will work closely with you in selecting provisional shortlists, and arrange a further tour of shortlisted options to consider their key merits.

Analysis

In assisting with the selection of shortlisted options, particular attention will be paid to the following:-

• Lease length
• Tenant’s break options
• Tenure
• Rent/terms
• Rent free period and/or capital contribution
• Building specification/condition
• Fitting-out
• Rent reviews, timing and draft repairing obligations
• Service charge provisions
• Alienation (ability to assign or sub-let)
• Business rates liability
• Building warranties
• Floor areas
• Future dilapidations and reinstatement obligations
• Building mechanical & electrical services issues and functionality
• Expansion potential
• Lease flexibility

We can provide both a financial and non-financial analysis to assist the client in establishing their preferred option.

We can provide a cost comparison analysis in terms of a net present value (NPV) over a 5-, 10- or 15- year period, or more, if bespoke financial modeling is required.

Negotiations

We will undertake all negotiations on behalf of the client directly with the potential landlord or their agents to secure the best possible terms.

Once terms in principle have been negotiated we will prepare and seek to agree a detailed set of `heads of agreement’ setting out the principal terms of the transaction, which will form the basis of a brief for both the landlord’s and tenant’s solicitors.

Measurement

We will undertake a detailed measured survey of the property in accordance with the RICS/ISVA Revised Code of Measuring Practice to establish the floor area for the purpose of calculating rent and proportion of service charges payable.

Legal Process

We will work closely with your legal representatives in reviewing the lease documentation and assist in all subsequent negotiations through these stages.

We will attend legal meetings to provide advice on property related issues.

Additional Services

We are able to provide further assistance or obtain competitive quotations from third party contractors to provide the following services:-

• Architecture and fitting-out services
• Structural surveys
• Mechanical & electrical services surveys
• Rating advice
• Building management and advice on service charge issues

IMPORTANT DISCLAIMER
It is impractical for a bulletin of this length to be all encompassing and it is important that the contents of this leaflet are not relied upon for any specific circumstance. It is always important to seek specific professional advice. Andrews Denford & Boyd cannot be liable for any loss or damage arising in any way from the contents of this document.

*This document is prepared as a brief guide and must not be relied upon or considered as comprehensive. Professional advice should always be sought.

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